Fresh agreements concerning wagers in the NFL.
The NFL in the United States has seen some new partnerships emerge, focusing primarily on the Denver Broncos from Colorado. This three-time Super Bowl champion has secured a sports betting and DFS deal with FanDuel, as well as a contract with bookmaker Betfred. Could these deals be a way out of the COVID-19 crisis?
FanDuel's First NFL Deal
As the 2020 NFL season approaches with a scheduled start date of September 10th, the Denver Broncos have inked two significant sports betting partnerships. Firstly, they've signed a multi-year agreement with FanDuel - the sports betting and DFS provider becomes the first official partner of an NFL club. FanDuel was acquired by the British betting giant Paddy Power Betfair in 2018.
As part of the partnership, FanDuel gains the rights to use the official names and logos of the Broncos for marketing initiatives. The team's fans can expect large-scale campaigns that will directly target them. This will translate into massive advertisements in the home stadium, as well as radio, television, and internet promotions. A unique and competitive betting product will be created.
Regulated Sports Betting in Colorado
This partnership is made possible by the legalization of sports betting in Colorado in April 2019. The process took over a year after the repeal of the PASPA ban by the US Supreme Court in May 2018. With a population of 5.6 million, Colorado is believed to have a high demand for sports betting. Both parties reaffirm this belief:
"Colorado is inhabited by sports enthusiasts and a spirited population. Partnering with the Broncos will elevate the sports fan experience in Colorado. The NFL season is approaching rapidly, and our partnership with an innovative organization like the Broncos will allow us to offer fans inside and outside the stadium unique experiences and access to exceptional betting content."- Mike Raffensperger, Chief Marketing Officer, FanDuel, Press Release
This deal comes shortly after FanDuel launched a new online sportsbook in association with Twin River Worldwide Holdings, which operates the Golden Gates Casino Black Hawk. Since May 1st, Colorado residents can place bets in football, basketball, hockey, baseball, golf, MMA, soccer, NASCAR, darts, and tennis through an app.
Betfred's Sports Betting Lounge at Broncos Stadium
The Broncos have also landed a multi-year sports betting deal with Betfred USA Sports, the US subsidiary of the UK-based Betfred Group. The partnership coincides with the launch of a new sportsbook at the Saratoga Casino in Black Hawk. There are plans to create a sports betting lounge outside the Broncos' home stadium (Empower Field at Mile High).
Betfred is granted the opportunity to exhibit banners in the stadium and make use of the team's logos and brands. Additionally, Betfred offers fans aged 21 and over the chance to attend pregame events that will assist them in using the Betfred digital app and viewing live odds. The operator itself boasts of "Vegas-style sports betting."
The town of Black Hawk, though small, has gained prominence as a gambling hotspot in the state of Colorado since gambling was legalized in 1991. It's situated approximately 50 kilometers west of Denver and has been in direct competition with Central City, where several casinos are also located.
Mac Freeman, the Broncos' Chief Commercial Officer, states that Betfred's combination of a physical sports betting business at the Saratoga Casino, an extensive retail offering in Europe, and an online offering creates a mutually beneficial situation for everyone involved. This partnership is set to excite football fans across the state.
The Impact of COVID-19 on the NFL
The NFL is renowned as the most successful professional sports league in the United States and one of the most profitable leagues worldwide. Its revenue has consistently risen, reaching approximately €11 billion last year. However, the COVID-19 pandemic has hit the NFL hard.
During the lockdown, the NFL was still able to capitalize on drafts and free agents. Nonetheless, its primary source of income stems from game operations, leaving it vulnerable to potential losses if crowds are excluded from games - a scenario that has become increasingly likely due to the unpredictable health and socio-political landscape.
$70 million Loss per Team?
CBS (Columbia Broadcasting System), a TV broadcaster, estimates that teams could face an average revenue loss of $70 million annually. Teams derive income from various sources, but all of them have been impacted by the pandemic. However, the absence of fans might be partially offset by sports betting partnerships. The NFL already has a range of such deals, such as those with 888, Tabcorp, and Caesars. These latest deals could also prove beneficial. Whether the crisis can be averted through betting agreements remains to be seen.
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Source: www.onlinecasinosdeutschland.com
